PANews reported on November 21 that hybrid payment platform Rise Labs announced the completion of a $6.3 million Series A financing, bringing its total financing to $10 million. The investment was led by Draper Associates, co-led by Polymorphic Capital, and participated by DCG, JAM Fund, Ryze Labs, and Paradigm Shift Capital.
According to reports, Rise is a hybrid payment infrastructure that integrates fiat currencies, stablecoins and cryptocurrencies. Currently, Rise has more than 150 customers and more than 100,000 contractors. Its customer base includes traditional enterprises, Web3 enterprises, as well as DAOs, protocols and platforms. Rise's comprehensive platform supports companies to recruit, hire and pay global contractors and employees in local currencies and stablecoins, while ensuring compliance with international tax regulations and employment laws.
